Compass has the expertise and flexibility to fully service all of our clients' exchange needs. In addition to providing industry-leading exchange services, Compass is dedicated to providing its clients with safety and security in all of their exchanges.

Compass is a wholly owned subsidiary of Rockland Trust Company whose parent company is Independent Bank Corp (NASDAQ: INDB).

Our Experience

Experience is invaluable. We have completed over $25 billion of exchange transactions of all types. We have worked on some of the most complex exchanges for the most sophisticated investors. Our clients include public REITs, private real estate companies, Fortune 500 corporations and individual investors. Our experience drives our solutions-oriented service and allows us to provide strategies for common and uncommon exchange issues.

Our Approach

Compass takes a unique, hands-on approach to our clients' transactions. We are dedicated to client satisfaction, offering the highest level of professional service and expertise. We help our clients and their advisors establish the objectives of their exchange transactions and bring a solutions-oriented approach to meet those objectives. We are flexible and tailor our documents to achieve the desired objectives of our clients and their advisors. We actively participate in bringing our knowledge to bear in each client's transaction. We are personally involved in every transaction and are available at all times for consultation.

Safety & Security

Through our escrow arrangement with our parent bank, exchange funds are held in an account at Rockland Trust, and are FDIC insured (up to applicable limits) and remain safe, secure, and liquid. Larger balances are held in trust or escrow arrangements and invested in institutional class money market mutual funds selected by the customer, or in another money center bank if required by our client. Funds cannot be transferred without dual signatures of the client and Compass. No other QI offers this degree of flexibility.

When Compass "parks" a client's property in a reverse like-kind exchange, Compass' documents implement state-of-the-art creditor protections so that clients are assured that they will have control of the property, income from the property, and the ability to acquire or transfer the parked property without any risks. Compass' personnel are highly-experienced, well-trained, and ethical, with many years of like-kind exchange experience without incident.

Rockland Trust specializes in lending to condominium associations, homeowner associations and property management firms. Whether your association has a large capital reserve project, faces overruns in critical and volatile budget-line items such as snow removal, or is just trying to lessen the economic impact of a large assessment to your unit owners, our team of professionals will work with you to design a lending solution to meet your needs.

In the past, we have provided condominium associations with loans for everything from small-scale projects of $10,000 to large deals of $50 million.

Forward Exchanges

A forward exchange is used when the client sells their Relinquished Property first, then acquires the Replacement Property. Transaction costs of a forward exchange are nominal, and the documentation is relatively simple. Yet each Forward Exchange has issues an exchange professional can identify and solve. Please click here to learn more about forward exchanges.

Reverse Exchanges

A reverse exchange is used when the client locates suitable Replacement Property prior to the sale of the Relinquished Property. The IRS established a safe harbor for reverse exchanges with Revenue Procedure 2000-37 , 2000-2 C.B. 308. There are two general types of safe harbor reverse exchanges, depending on the property parked: "Exchange First" (in which the accommodator acquires the Relinquished Property), and "Exchange Last" (in which the accommodator acquires the Replacement Property). Transaction fees for a reverse exchange are higher than a forward exchange. However, a Reverse Exchange helps solve a difficult exchange issue - timing.

Improvement Exchanges

This is a special type of reverse exchange in which an accommodator acquires a parcel of undeveloped land, obtains construction financing, and builds improvements. The accommodator then transfers the improved property as Replacement Property to complete an exchange. This structure helps solve another difficult issue - value. Please click here to learn more about Improvement Exchanges.

Other Exchanges

Section 1031 has applications well beyond real estate. In fact, tax may be deferred on the sale of any real or personal property held for investment. To learn more about exchanges of personal property, please click the links below.

Aircraft

Artwork & Collectibles

Business Equipment

Oil & Gas properties

Multi-Asset Exchanges

Replacement Properties

A challenge in any exchange is finding suitable replacement property within the short time period allowed by the Code and Regulations.

We have many replacement property strategies involving non-obvious sources of replacement property such as related party property, partnership interests and development of land holdings. We also have pre-packaged replacement property solutions such as NNN leased properties, tenant-in-common (TIC) interests and oil & gas investments. Please contact us at 508.830.1188 if you have replacement property needs.

To Get Started

Andy is responsible for managing all of Compass' new and existing client relationships and transactions. Andy has over 25 years of experience in IRC §1031 exchanges, documenting his first of many exchanges in California in 1985. Prior to co-founding Compass, he was Senior Vice President and General Tax Counsel at J.P. Morgan Property Exchange Inc. (JPEX) where he had primary responsibility for executing more than $15 billion of exchange transactions on behalf of corporate and institutional property owners of real estate and aircraft. Prior to that, Andy practiced law focusing on real estate finance, corporate and tax law, serving as a trusted advisor to numerous successful businesses. Andy is admitted to the bar in CA and MA and holds a BS from Boston College, a JD from Southwestern University, and an LLM (in Taxation) from New York University. He is also an active member of the American Bar Association (ABA) Tax Section and the National Association of Real Estate Investment Trusts (NAREIT). Andy is also Assistant General Counsel for Rockland Trust.